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Insane In The Membrane
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Insane In The Membrane

by The MoleMay 28, 2009

2:42pm EDT: I feel like I just dropped the soap in a federal penitentiary. I know this bad and extremely frustrating – I basically just gave up all of yesterday’s gains in my index puts.

I know you are frustrated. Now take the plastic bag off your head – put down the gun – and keep that razor blade firmly lodged in your artery until the ambulance arrives.

Here’s my attempt to bring some order into the chaos we are experiencing. It ‘seems’ like we pained some Wild West Buffallo Bill Rope-A-Dope (a)-(b)-(c) correction. Not sure it’s done yet and I added a short term fib scale to suggest possible targets. 100% means (a)-(c) equality – we could push further than that of course by EOD. As I said – I’m holding my puts – no matter how much postulating we’ll see.

However, if we breach yesterday’s highs then the jig is up and I will have to admit defeat. Which will probably keep me mostly in cash for the remainder of Intermediate {2}. The name of the game at this point should be capital preservation – the more cash we burn on shorting this bear market correction the less fuel we’ll have to really stick it to the bulltarts late this summer.

2:08pm EDT: Take a quick look at these SPX breadth charts:

2nd half:

Is this coincidence or are the Goldman boys trading the alphabet these days? Never seen anything like this… insane… Today’s menu: J through X :-)

2:33pm EDT: Wow wow wow – can you say ‘impending bond market dislocation’?

This is a very important line for Curly – believe me. If we breach above this the proverbial excrement is going to hit the fan.

3:30pm EDT: I just traded that monster divergence in the Zero Lite for a quick ES futures scalp. Not much – exited at 905 as the tape is extremely whippy. As I’m typing this we’re getting some monster green candles again. Three steps forward – two steps back – painful. This was a great example on how to play those hourly retracement levels in combination with the Zero. I knew what the line in the sand was in terms of probability and watched the Zero Lite signal degrade. It took a while for it to break but when it did it was a nice quick ride to the downside.

Anyway – breadth is looking pretty bearish at this point and I think we have a chance for this to resolve in our favor. If you’ve held out this long – don’t do anything stupid now. Let them show you their hand in the next 30 minutes.

3:33pm EDT: Quote Of The Day:

Which part of record foreclosures does the market not understand? — Ropey

Well, three minutes later and we took three steps back again. Listen guys – I have had enough. My line in the sand is yesterday’s high and until then the bulltarts can kiss my shiny metal ass.

3:46pm EDT: Oh shit – this is not good:


About The Author
The Mole
Mole created Evil Speculator amidst the chaos of the financial crisis in early August of 2008. His vision for Evil Speculator is a refuge of reason, hands-on trading knowledge, and inspiration for traders of all ages and stripes. You can follow him and his nefarious schemes at various social media waterholes below.
  • lester

    isn't the word “masturbation” instead of “postulating”?

  • cuvo

    I love a market with a sense of humor.

  • annamall

    It's tough, but I am swinging in and out of futures watching the TNX. So far so good.

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Trying to make sense of all these triangles as I'm waiting for an entry of some kind. Anyway, one possibility is that we're about to finish Minor X of Intermediate X — which all you bearish rats should love. Watch the highlighted range on this chart of XLF (if we get there). We should find out soon enough. S&P — what do you think?

    http://tinyurl.com/ly37mu

  • Iguanadon

    It's ok to laugh as long as you don't point.

  • tranchefoot

    My fear: SPY 200d SMA is now at 932, the high since the march low. The knuckle draggers can feel it approaching… all they have to do is hold on for one more week and we will be over the top.

  • innatedc

    Where's the chicken oscillator….?

  • cuvo

    How's that new $PSYCHO index coming along, Mr Mole?

  • molecool

    Based on the comment count I guess everyone has walked away in disgust – LOL :-)

  • callie

    I just posted a comment that DBC looks like a nice short, then had a look at the SOH and Tim Knight has a post that he is waiting for the breakout…! LOL.
    He's usually right but I wouldn't buy it right here.

  • rhae

    My super pitchfork overlay program using Moles EW swing anchors… puts the median line right at 906… even a quick pop above and drop below would probably be ok for bears… or maybe it is done… I guess we shall see…

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Telling me all day to be patient and wait for an entry signal.

  • LostIllini

    No Complaining today!!! Mole told you it was going to be chopity chop chop till we clear 880. Little surprised Mole is complaining but it is his blog so I guess he can. IF you are a day trader today is a wet dream Up a buck, down a buck and back up a buck you can make a lot of money if you know what you are doing (or work for GS). Long and short of it, you either be ecstatic with this tape or not trading it in the first place.

    Gold on the other hand…..GRRRRRRR….

  • molecool

    “Little surprised Mole is complaining but it is his blog so I guess he can.”

    Are you kidding me? I love to complain! :-)

  • innatedc

    could you let us know when it clucks so we can play too…..

  • EDC

    Whipsaw today, go figure.
    Rising wedge on 5 min?!?!?

  • cuvo

    must be part of your molecoolar structure

  • salvadorveiga

    pretty much… I just snoop in from time to time so I can rest my eyes from my hard study 😀 eheh

  • lester

    FUCK Qs over 35

  • katzo7

    Ned's back
    yowyer356

    One post back

  • rhae

    SPX 120m … looks like we have a time bomb building…. which ever way it blows should be a Duesy…
    Could use some E-Wave help here, e usually the short fuse but I am not sure which way to count it?

    http://screencast.com/t/Ib1C0EiotNw

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Sure, although I stress this thing is still in beta mode and anyone attempting to trade should be extremely careful.

  • KidDisco

    I'm busy getting sodomized. I'm almost done.

    I'll post some notes when I finish up.

  • MyLifeMyTrade

    For heaven's sake.. pleaes reply to my post.. I will get your email id that way.. I may have useful advice for you.. I dont want to post it here.. in past, someone took offense on that.

  • Douala

    Katzo

    That comment was not meant in a mean spirit. I apologize if you were offended buy it.

  • MyLifeMyTrade

    Realized I was on the wrong side of the gold trade.. scalped 2 points going short and flipped over to long.. 3 points up now. Stop at break even..

    My positions: short TBT, Long gold

  • Keirsten

    No Douala, he meant me, not you.

    Katzo- I'm offering you a public apology for my comment. Again, it was not meant in a harmful way, sorry you took it that way.

  • lester

    I replyed early this morning, but I will do again…

  • MyLifeMyTrade

    The alphabet chart is the funniest thing I have seen in my 5+ years of trading life.

  • BaldEagle

    The 50 day MA on SPY is already 86…If we continually trade sideways until the prices meet the 50 day avg that could rocket us to 1000.

  • Iguanadon

    Trying to use logic in an illogical environment… You'd think the blow out would be to the downside. This feels like they're holding things up to make the month of May look good. If the intended direction was upwards, there wouldn't have been any reason to hold steady the past few days (steady overall, lots of chop in between).

  • eunsuh

    should have turned here at 91.3 on the SPY…oh well.

    http://stockcharts.com/h-sc/ui?s=SPY&p=1&yr=0&m

  • jbr

    I love today's tape – made 3% in ERY off of the treasury “fear” action when its inverse ERX is up 11% on the day (lmao) and loving the action in Silver mining stocks.

  • Osso

    XLF still has to break 12.19…thus…still lagging…..

  • innatedc

    THis pump is on fumes boys and girls….

  • C C Rider

    If 910 gets taken out today, I feel 920 is on the menu. 975 or bust, whipsaw fuckin market!!

  • http://www.slopeofhope.com Tim Knight

    Mole, you and I usually agree, but I've got to take exception with the “I feel like I just dropped the soap in a federal penitentiary” remark. This is more of a State Prison kind of experience.

  • GoCougs

    Check out today's volume on June GLD 100 calls!

  • Iguanadon

    Or a county lock-up in rural Tennessee….

  • http://www.slopeofhope.com Tim Knight

    Can I send Ned over here to play instead of Slope?

  • katzo7

    Don't add to shorts here.

  • callie

    You're shorting a short etf, nice…just out of curiosity why not take the TLT?
    I covered my goldputs yesterday. Now going against the trend with a bit of SCO short oil 😉

  • lester

    I just replyed to your post via e-mail. Let me know if you got it ….

  • eunsuh

    if it retraces, we may get a bounce at SPY 90.6 – 90.7 (neckline)

    The market will be driven by ANY drop in ten year yield. The market is likely to rocket upwards at the usual 330 to 400pm.

    We are going to 960s….as I said before.

  • lester

    MLMT,
    Thank you for offering to help. The sad thing here is that I know what
    I am doing wrong but make the mistakes anyway. I am actually
    considering subscribing to evil.rat to let someone else make the trade
    calls. That way I will not be as glued to my monitor watching every two
    minute bar.

    I am down to $1000 in my account, but had $60000 on March 9. My basic
    problem is that I have been trying to short this rally the entire ride
    up. I am doubly pissed because I have lost a ton of money shorting but
    have not enjoyed any of the gains from the run up.

    PS – and now you know my name is not really lester (that was just my
    nickname in high school)
    email : raymond.peterman@uop.com

  • http://www.slopeofhope.com Tim Knight

    Mole has real purty lips.

  • Marc45

    It's good to hear capitulation talk amongst the bears (or faux bears) on this site. Makes me want to double up my shorts.

    Bear markets just don't end this way or this easily. Period.

  • annamall

    I sort feel like I am in the female county jail! *(yuk)

  • Skates

    Brought out the 5 gallon bucket of KY this morning and lubed up for this bull show.

    DO NOT WORRY GUYS, my system is showing a negative bias for tomorrow, if not then I will let NED plow me and I will donate my account for his wrecking.

    If I am right however annamall be ready you can really take advantage of me soaked in KY.

  • annamall

    Hey Iggy, I didn't see your post. LOL

  • katzo7

    You crack me up.
    I guess I will be next.

  • annamall

    I have purtyer ones! :-)

  • innatedc

    MORAL VIOLATION! MORAL VIOLATION!! Hey Katzo where are ya?

  • BaldEagle

    For the experienced traders out there…how would you buy a long straddle on XLF…With that triangle it's going to move big either way..

  • springheel_jack

    Bring onthe MOMO

  • Rd99Hse1

    sorry bout your Blackhawks. Even being a Senators fan I was rooting for Chic over Detroit.

    oh well. sweet rematch upcoming anyway.

  • rhae

    above 906… pass the soap please..

    oh shoot, just a stop run, always have an excuse handy

  • Squidman

    Okay. I'm done for May. 43 trades, 19 good and 24 bad. Losses 1.5 times wins. Worst part is I've been getting so much great help and feel like I've let more than myself down. And today is all about the Sachsons, could see it in the tick pattern even before Moles alphabet chart. Fuck May, see you in June!

  • katzo7

    Where, do not see it. Got short oil all over my face!

  • disrespekt

    mole, check out the triangle IYR is trading in off the 5/14, 15, 26, 28 bottoms…or is this some kind of ascending wedge…the action today was contained perfectly in it.

    The bullish RSI divergence on the 30m off the double tap of the lower trendline I guess was a cue to get out of this one. The SPY is up against the upper trendline off the 10 highs on the 10-day 30m chart

  • katzo7

    EW ABCs as far as the eyes can see.

  • Iguanadon

    And my poor Hurricanes got swept after knocking out the #3 and #1 seeds on the eastern side… A great run ended in a ball of flames unfortunately. Malkin is amazing, gotta give him credit.

  • Skates

    Have a chart?

  • onorio

    this market realy knows how to take people off his way….fucking whipsaw!

    this shit is all about, be right and sit tight.

  • Skates

    It was too bad Rd99Hse1, we have a young team that will be very successful in the future if they keep this talent.

  • LostIllini

    Today has an ugly sell off at the end sort of feel to it, no?

  • Squidman

    LOL, very clever!

  • Skates

    moral? moral would be letting these fuckin bulls win…

  • springheel_jack

    If I'm right about oil then KY will be getting much cheaper over the next few months.

    Is there any way to short KY? Stocks over at Skates' seem to be at a high.

  • LostIllini

    Don't feel bad…they still live in Detroit

  • springheel_jack

    Ugly? Don't you mean beautiful?

  • KidDisco

    i'm glad you find my ass-raping amusing…

    of course, now that my ass is all loosened up, i think its time for me
    to take a dump on this bullshit rally.

    i'm feeling another last hour dump.

  • springheel_jack

    You taking a long or short position on that one?

  • MyLifeMyTrade

    Gold is being moved by dollar and so is oil.. Oil does have some role of where the economy is headed.. I would be either short both or long both at the same time…

    Dollar is going to keep tanking… I think oil sees 70 – 75 before pausing..

    Regarding why short TBT.. Even in sideways move, leveraged ETF would lose value… Shorting TBT is like shorting SKF / FAZ when they go parabolic.. Easy money there as long as the anticipated move happens..

  • disrespekt

    unfortunately, I dunno how to do that

  • onorio

    impulsive down… PLEASE!

  • lester

    No, that was yesterday.

  • Rd99Hse1

    I'm not a massive hockey fan, but I basically haven't owned a tv since
    Ottawa's failed Cup run a few years back. And yea, that is partly due to
    hockey boredom…that and TV sucks anyhoo. Bittorrents, heh.

    …and how about that market? “what kind of fuckery is this…? you made me
    miss that slick rick gig (oooh slick rick..” …

  • lester

    that will keep the shit tight

  • Rd99Hse1

    nice.

  • MyLifeMyTrade

    I got out of SRS before the tankage… The two jars of vaseline on my trade desk are no good now… I can pass them on.. I swear to god I am not touching SRS again.. definitely not on the long side. I think both SRS and FAZ will be penny stocks before the year ends…

  • isaiah64v4

    If you use Stockcharts .com you will see a link titled “linkable version” at the bottom of the chart.
    Click it and then copy and paste the link in your post here at ES.

  • MyLifeMyTrade

    For be right. one has to have good entries… else it is not easy to sit tight..

  • cuvo

    FUBB, as they say

  • eunsuh

    i hope so, but it looks like it will get to 90.5 SPY and will hold. But, I'm game for an ugly selloff.

  • Skates

    You mean low? I think I have been using it in preparation prior to the open all week…

  • v8muscle

    Bear flags on XLF and /ES

  • shotskyhigh

    TBT is leveraged. I don't think there is a leveraged long. Am I right MLMT?

  • onorio

    rock`n`roll time?

  • Fujisan

    AAPL has a confirmed abc up structure with a min $150 possibly $170 target. I have my butterfly working for me.

  • bsummertime

    i'm all in on SPY puts!!!!

  • v8muscle

    tick pointing down also

    zero is nuts today though lol. switching back from green/red every hour hahah

  • manxman

    Here we go, just broken todays upward trend line, ugly sell of here we come.

  • LostIllini

    To Quote Mr. Steve Miller, “Go on take the money and run”

  • bsummertime

    CROSS THE ZERO!!!

  • disrespekt

    can I draw trendlines on that?

  • isaiah64v4

    Malkin was definitely playing in the zone against the Hurricanes. I'm from Pittsburgh and a lot of folks here were surprised that we swept the series with basically no problems.

  • onorio

    i see a minus 😀

  • amgrant

    We are getting back to a tape very similar to 2008 where the best thing to do is sit on your hands and let your positions work. If you are micromanaging the position you are very likely going to lose a lot of money over the coming weeks/months. Until the trend is obvious expect the chop to continue…just part of the topping process.

  • BalaB

    I keep watching the order flow, TICKS, etc. They're just not gonna let the market fall. Every institutional sell order is bought right back into.

    Lots of money to be had if you're a scalper….Otherwise, way too perilous for a directional bet

  • cuvo

    The man who prints the tape is getting the electric chair while rolling down a cobblestone hill

  • ropey

    this smells of a close at the high..GS about to take out its high from yesterday…if it does, im out..

  • katzo7

    Got a number of responses saying we get a EOD sell off. IMO not going to happen. We had our sell off yesterday. Remember? Today and into tomorrow, we do what we are doing, up. From here sideways would be a gift. Then Monday or perhaps even Friday maybe down. ABCs as far as the eyes can see. So predictable, after the fact.
    Go to a matinee movie, come back Monday.

    And Squddy, I was not calling for everyone to come clean about losses. You have just opened yourself up! I would remove your comment. Everyone wins on this site, no one looses. LOL

  • rhae

    SPX 120m, same chart as the time bomb, but notice the momo pane… divergence.. Been watching the last candlestick… without supporting momentum it is acting like a Shrinky Dink…

    which I will call a shinky dink candlestick pattern

    http://screencast.com/t/lujfQhElC

  • standard_and_poor

    Closing out yesterday 893 longs at 906.

  • Squidman

    Usually Goldman fuckery days are not ones to rely on zero divergences. Think the big finger fuck finale. Looks like they want to pin this month at 900 ish.

  • disrespekt

    homebuilders are getting beaten to death lately….if I recall, they presaged the decline in January.

    Right now the SP is just flat, sandwiched between the 50 and 200dma. The 200 on the SPY is right up there at like 932. We don't seem to have much buying pressure or selling pressure these days and we have repeated inability to pierce trendlines to the upside but no real followthru by sellers. On most days like yesterday we seem to achieve buying exhaustion. These should be good signs if you are short

  • LostIllini

    Moderators…Could we please have this comment removed for not being bearish enough. What has happened to our standards?

  • lester

    I think I had better close my QQQQ Puts if that is the case. But then again I know knothing.

  • bsummertime

    chickened out, got 30 cents per

  • divergence

    Nice work.

  • standard_and_poor

    May do some shorting up here now, waiting.

  • katzo7

    LOL.
    Don't try to cheer me up.

  • ropey

    which part of record foreclosures does the market not understand?

  • Iguanadon

    I just came across a copy of the minutes from the May 1, 2009 meeting of “They”. You know… “THEY're moving this market all over the place”… “where are THEY going to take it now” …. “holy crap, what are THEY doing now????”

    I can't believe I came across this… but here it is…

    Meeting called to order at 10:00am

    All members in attendance

    Mister X announces another successful month. Faked out all the bears in April into thinking there would be a pull back of 10% or more after the rally in March.

    Game plan for May is roughly the same. Get the bears to keep shorting at expected peaks. Pullbacks are small. Big enough to keep them holding, but not deep enough to want to take profits and then spike up again.

    Comment by Mister Y “Ha! How many short traders do you figure kept doubling down all month long??? HAHAHAHAHAAAAA”

    Entire room erupts in laughter.

    Mister X asks for other suggestions for May.

    Options discussed were:

    1) More of the same, nobody would expect a 3rd month straight up without a 10% pullback
    2) Screw with the EW folks
    3) Really yank Oscar and his Omniacs around

    Final decision…. All 3

    Meeting adjourned at 10:20

    Welcome to the end of May.

  • buyemsellem2000

    Until this bull vs bear tug of war from 880-915 gets resolved I'm staying small playing the range or not at all, and thats more to satisfy my gambling side than anything. The bears can't keep it below the 20 day let alone get it down to the 50 day and the bulls can't break 200 day.____Lots of data tomorrow that can push this market either way.____Time and expectations. GDP revision 1Q 5/29__8:30am -6.1% ____Chicago PMI May 5/29__9:45am 40.1% ____Consumer sentiment May 5/29__10am 67.9 %

    Playing TZA and TNA both have established clear bottoms on 30 min PF charts.

  • Squidman

    Just being contrarian ; }

  • molecool

    LMAO – you CRACK ME UP!!!!

    Quote of the day – for sure!

  • annamall

    I have been selling buying ES all day that's about all you can do with this tape. it's exhausting.

  • lester

    There is just no selling pressure on the Qs today at all. I think I will keep my shorts unless 35.2 is taken out today. But shit that MoFO will probably fall tomorrow the way this bullfuck market is going.

  • CowardlyLion

    Said 2 weeks ago, longer time frames is the only way to negate lack of impulse control.

    Said last night, you will never make money trying to scalp index options intrady.

    Just follow the full STO on the hourly for SRS or SKF man.
    http://yfrog.com/0271110052p

  • standard_and_poor

    Stay alert, possible good shorting play -spx may have a breakout failure.

  • C's & 3's

    Nothing like trading a counter trend move within a counter trend move with in a counter trend move.

  • molecool

    Never worked so hard for so little coin. I'd be better off peddling BJs on Santa Monica Blvd.

  • lester

    this is extremely bullish because there will be a lot of cheap and trashed houses on the market. Cheap housing = stimulus. HBs will suck but HD and LOW should do well.

  • springheel_jack

    I thought you had gallons left over?

  • katzo7

    Get ready for last 1/2 hr. ramp up. Not bearish enough for ya. Well we are not going to 1200. LOL

  • innatedc

    I actually think this tape today favours bears….913 not breached (at least not as of this post)…..and if you can't go higher on such shitty volume then bulls are shooting blanks…..if they buy hard into the close then its another story.

  • molecool

    At this point I'm wearing a neck brace…

  • C C Rider

    Hope you shorts are wearing steel jockstraps. Will yak it higher into close and prob gap it up in the morning. Then the strongest three days of the month June 1-3.

  • molecool

    Yeah, it worries me a little bit that we are not breaking. The bears need to start hitting the bulltarts while there is a lack of buying pressure.

  • lester

    REPOST – isn't the word “masturbation” instead of “postulating”?

  • CowardlyLion

    Dude, stop thinking and just trade a mechanism. See my response to your and MLMT's dialogue below.

  • cuvo

    Now you know how the planets feel

  • onorio

    this is fucking ridiculous….

  • innatedc

    I think Katzo, we have to give today's battle to MLMT-V8 but I think we'll win the war……..

  • springheel_jack

    Sadly, I agree. Sold half my shorts at 905 SPX.

  • lester

    I,m just pissed, thats all, I refused to get whipsawed (again).

  • katzo7

    Yes, I concede.
    You know how I know we will get a ramp job into the end? All of my indicators are pointing down. LOL

  • EDC

    Little participation on the goldkids volume spike. Fool me once shame on who, fool me twice now got me again, not thrid lucky charm. Fund imbalances will hold levels maybe.

  • v8muscle

    Here's a quick 20 day /es chart

    http://screencast.com/t/W7auG62k

    sorry for the mess. we're hanging out around the resistance of the purple channel right now, might bump up to the blue resistance though around 913 who the fuck knows at this point….

    this market depresses me

  • innatedc

    Well that's just it, we need to take charge or they need to take charge….this is a bit of a standstill and staredown…

  • Osso

    Guess the Qs are going to test previous highs…..before a real move down….under current scenario…and SOX might try a test together with the Qs.

  • eunsuh

    yup…if they break the triangle on the SPY….we are going to 930++

    http://stockcharts.com/h-sc/ui?s=SPY&p=30&yr=0&

  • v8muscle

    I was right and still lost a bunch of money today….

    FML!!

  • standard_and_poor

    still waiting for short entry

  • molecool

    That's the problem during bear market rallies. A lot of time you are right when it comes to fall backs but somehow you get whipsawed or theta burned out of your profits.

    Frankly – if it wasn't for this blog I probably would have switched the strategies and the Zero on auto-pilot and taken an extended vacation.

  • Marc45

    Mole, Didn't you say earlier to quit watching the tape and go do something outside? <laughs>

  • innatedc

    You know if I were a conspiracy theorist, I would bet that over this weekend CNBC will announce that the CEO of GM has won the Michigan State Powerball lottery and has decided to re-invest it back into his company….result- BULL MARKET.

  • lester

    Fuck me hard Qs

  • springheel_jack

    Nice triangle forming on the SPX 60min:

    http://stockcharts.com/h-sc/ui?s=$SPX&p=60&b=5&

  • innatedc

    The little wind behind this EOD push is more of a fart……probably coming out of Ned's ass……Gawd I am funny today, Vegas here I come….

  • Osso

    DELL reports AH….

  • eunsuh

    wow….bears get the last 6 minutes!! Go bears!!

  • CowardlyLion

    'Refuse' is a bad word to use when trading.
    Much easier to follow the market than predict it.

  • lester

    LOL

  • katzo7

    LOL

  • molecool

    I guess some angry bears just showed up – LOL

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Same here. I'll probably wait till tomorrow regardless of how we close.

  • ropey

    any take on where it'll go? IV looks low..

  • molecool

    At least you are staying in and are not whipping from one end to the next. I'm surprised to say this but I'm proud of you today.

  • innatedc

    Funny thing cause I actually made money today but mainly cause I got out in time….lucky…I did decide to re-enter another IWM short here at EOD and hold for tommorrow…chancey? Yeah but I am feeling lucky….

  • isaiah64v4

    Yes you can everything only thing is to save it or post it you have to join. But other wise it is free [with limited options].

  • kinihepu

    I'm going to hold my puts tonight. Hopefully the window dressing tomorrow won't wipe me out.

  • standard_and_poor

    No short taken , good evening rats.

  • junior35

    Wow man,this psychadelic chart reminds me of when I was popping reds.

  • springheel_jack

    That jackpot must be at least $30bn. Where can I buy a ticket?

  • lester

    thanks for your kind words, my timing was a little off today, and thats what my first girlfriend said too..

  • CowardlyLion

    Possible AZO bull wedge bk on the hourly. Will look for entry tomorrow AM. Indicators look similar to 5/21.

  • standard_and_poor

    Same advice for rats, how to avoid rat traps, ddt, hungry cats, etc.:
    http://www.screencast.com/t/HEwwSXlY

  • callie

    You're right but it's funny how DXY has actually been going sideways since the 22nd while oil has skyrocketed, even dollar-commodity correlations are a bit out of whack. Main driver me thinks is inflation-sentiment momentum.
    Come to think of it, it just goes up because traders keep pushing it up, and then they/the media find a narrative to go with it – whatever it is, opec or inventories or green shoots or China stockpiling.
    I've mentioned it a coupla times before – FWIW I don't think the USD is going to keep on tanking, hope not for you btw since you're long T-notes through short TBT (which is a smart play I think with yields hitting 4.)

  • springheel_jack

    You were right though. Nice call.

  • LostIllini

    ok, Coach Ditka vs. An inverse head & shoulders?

  • katzo7

    As well as mole le cool's excellent advise, I picked this out of the back pages.
    Quiet (to some extent) reserved (ever seen here at a disco?) fujisan drops a gem on us and we all ignore it. But hindsight!
    “There are not much money to be made in either direction until it breaks out of this range of 93-88 of SPY. BB contracting every day and it will break out one way or the other. It's not too late to jump right back in after it happens. Stay away from the market. It's not worth it.”
    http://www.youtube.com/watch?v=lZiOrMRly1M

  • divergence

    This was the worst fucking demoralizing bullshit day. I am just almost at wits end with it. Its not that I really lost money, 'cos I play things carefully. Its just that I have been spending 12-15 hours a day trying to get to that Point, whatever it is, where I am confident in my own ability, etc. Intermediate term trading, and understanding my own game, and time after fucking time this shit seems like take a few scalp bucks when you can get it and take it off the table, because you will just get screwed blued and tattooed if you don't. Man I have fought this shit since March on the short side, and I have made a little money, and I guess that is some accomplishment for improvement and good money management. But today, fuck I am tired and I just might take some time and take a break.

  • standard_and_poor

    Now we rock with those crazy Manchester boys and girls :
    http://www.youtube.com/watch?v=zhSA8FwdS2A

  • http://stainlesssteelchicken.blogspot.com/ StainlessSteelChicken

    Exactly. In this market 5 waves down is usually followed by 97 waves up, and ascending wedges, triangles, H&S, diamond tops, etc, etc, all break to the upside.

  • disrespekt

    Topping patterns are typified by this type of action, buying exhaustion.

    Remember the breakdown off of May last year dragged out over the course of a month.

    The big wave down in GD1 was kicked off by the bond market's collapse. This is actually why FDR had to roll back the New Deal and cut spending; the bond market told him to.

  • annamall

    LMOL I bet you'd get good coin for that ! 😀

  • molecool

    ¤ø„¸¸„ø¤º°¨¤ø„¸¸„ø¤º°¨
    ¨°º¤ø„¸ N E W „ø¤º°¨
    ¸„ø¤º°¨ P O S T “°º¤ø„¸
    ¸„ø¤º°¨¤ø„¸¸„ø¤º°º¤ø„¸

  • pricey

    Guys – you all make a terrible day worth the pain. LMAO. Mole – loved the ” leave the razor in your artery until the ambulance arrives”.

  • disrespekt

    Might as well say “stay away from crack”

  • Marc45

    I feel your pain man. The reality is that trying to find that perfect entry on the short side is going to be impossible. The market will do it's best to throw you off and then continue on downwards. I'm looking at a bear market which is in the process of topping out. This means sell the rallies and hang on. There ain't no good news out there no matter what the spin and watching the bond market, I'll bet there's another shoe (or ten) waiting to drop. Remember that GS and others recently sold billions in stock. That sounds like they think it's a good time to sell.

  • katzo7

    The feds are going to push a recovery on us whether it is real or not. Doesn't matter. The thing is the boyz at GS and others cannot be making much on this shit. Maybe I am wrong on this and they can eek out %s on this f**king littl' moves. I dunno.
    At some point the cover has to come off of this recovery or we are all putting our bear suits on too tightly.

  • Squidman

    That is a business plan I could make work. Anna, my first jing for you:

    http://www.screencast.com/users/Squidman/folders/Jing/...

  • katzo7

    That is your first? Great, nice kitties. You have 55 tomatoes? You must have a big place too.

  • springheel_jack

    Growth market.

  • DMS425

    Most likely the “record” or “foreclosure” part.

    I live in the Bay Area and the high end market that did not really drop through this mess is now getting smoked. $1.2-1.5MM homes are now $900K. The Jumbo resets are heating up and people are fu**ed. Granted many of these people have a ton of equity, but according to Zillow 45% of Jumbo loans made in the last five years along the Penninsula are underwater.

    Keep in mind that California is the 8th largest economy in the world and the adminsitration is not focusing on this. It is going to be thier fatal mistake.

    Of course this is just my humble opinion.

  • ckeltner

    would you mind sharing your appl bf, I don't believe I saw it.

  • standard_and_poor

    Let's see what happens, btw good luck with the chicken nugget indicator. LOL!

    ________________________________

  • standard_and_poor

    Thanks mate, a little luck doesn't hurt either.

    ________________________________

  • annamall

    FABULOUS !!! Squiddy, I just saw this, ahhh so sweet!

  • katzo7

    How does one trade this? ABCs for as far as the eye can see.
    http://www.screencast.com/users/katzo7/folders/

  • katzo7

    See above.

  • http://www.hotoptionbabe.com annamall

    FABULOUS !!! Squiddy, I just saw this, ahhh so sweet!

  • katzo7

    How does one trade this? ABCs for as far as the eye can see.
    http://www.screencast.com/users/katzo7/folders/

  • katzo7

    See above.